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India being one of the fastest growing countries in Asia,
offers unique opportunities to non-resident Indians for
investments in
India. One such avenue is to deposit funds with the banks
and State Bank of Mysore welcomes you for placing your
deposits
with us. Located at strategic places all over the country
with a network of correspondents all over the world,
State
Bank of Mysore provides you with all types of banking services
to suit all needs and offers several specially designed
schemes for non-residents. |
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Reserve Bank of
India vide its circular dt. December 8, 2003 has permitted
banks to include Indian students studying abroad as Non-resident
Indians (NRIs).
As Non-residents, they will in any case be eligibile for receiving remittances
from India, as follows:
i) Upto USD 100,000 from close relatives from India
on self-declaration towards maintenance, which would include remittances
towards their studies also
ii) All other facilities available to NRIs under
FEMA
iii) Educational and other loans availed of by students
as resident in India which can be allowed to continue as per provisions
of Notification No. 4/2000-RB dated May 3, 2000
Reserve Bank of india has also clarified that the above instructions do not dilute
in any way the utilisation of the existing foriegn exchange remittance facilities
to students in regard to their academic pursuits. |
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Contact your nearest Branch of State Bank of Mysore
or |
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Chief Manager
STATE BANK OF
MYSORE
International Banking Department
Head Office,
Bangalore - 560 009
Tel: 91 80 22353901 to 22353909 ; 22353473. - Extn 379
91 80 22353456 Telex:
845 - 8362
Fax: 91 80 22283684
Email: cmibd@sbm.co.in |
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